Courses » SS1 » SS1 Accounting » Accounting Exam Topics » Types of Subsidiary Books - Questions and Answers

Types of Subsidiary Books - SS1 Accounting Past Questions and Answers - page 1

1

Which subsidiary book records all sales transactions made on credit? 

A

Sales book

B

Purchase book

C

Return inward journal

D

Cash book

correct option: a
Users' Answers & Comments
2

What does the petty cash book record?

A

All small cash payments made by the business 

B

All cash transactions made by the business 

C

All transactions made through the business's bank account 

D

All goods returned by the business to its suppliers

correct option: a
Users' Answers & Comments
3

Which subsidiary book records all transactions that do not belong in any of the other books? 

A

Sales book 

B

Petty cash book 

 

C

Bank book 

D

Journal proper

correct option: d
Users' Answers & Comments
4

What does the return outward journal record?

A

All sales transactions made on credit 

B

All purchases made on credit

C

All goods returned to the business by customers

D

All goods returned by the business to its suppliers

correct option: d
Users' Answers & Comments
5

What is the purpose of the purchase book? 

A

To record all sales transactions made on credit

B

To record all purchases made on credit 

C

To record all cash transactions made by the business 

D

To record all small cash payments made by the business

correct option: b
Users' Answers & Comments
6

What is the difference between the return inward journal and the return outward journal? 

he return inward journal records all goods returned to the business by customers, while the return outward journal records all goods returned by the business to its suppliers.

Users' Answers & Comments
7

Why is the cash book an important subsidiary book?

The cash book records all cash transactions made by the business, providing a detailed record of the business's cash flow. This is important for financial planning and analysis.

Users' Answers & Comments
Recommended: SS1 Accounting Lessons
Please share this, thanks: